Clarivate PLC (NYSE:CLVT) Receives Consensus Rating of “Reduce” from Brokerages

Shares of Clarivate PLC (NYSE:CLVT) have been given a consensus rating of “Reduce” by the seven brokerages that are currently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $3.0167.

CLVT has been the topic of a number of research analyst reports. Barclays dropped their target price on shares of Clarivate from $2.50 to $2.00 and set an “underweight” rating on the stock in a research note on Thursday, July 30th. Stifel Nicolaus cut their target price on Clarivate from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Wall Street Zen cut shares of Clarivate from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Weiss Ratings reiterated a “sell (e+)” rating on shares of Clarivate in a research report on Wednesday, June 24th. Finally, The Goldman Sachs Group cut their price target on shares of Clarivate from $2.90 to $2.60 and set a “neutral” rating for the company in a research note on Thursday, July 30th.

Clarivate Price Performance

Shares of NYSE:CLVT opened at $1.90 on Friday. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of -3.66 and a beta of 1.39. The stock’s 50 day moving average is $2.05 and its 200-day moving average is $2.31. Clarivate has a twelve month low of $1.66 and a twelve month high of $4.17. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.93.

Clarivate (NYSE:CLVT) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. Clarivate had a positive return on equity of 9.15% and a negative net margin of 13.84%.The firm had revenue of $587.30 million during the quarter, compared to analyst estimates of $589.73 million. During the same period in the previous year, the company posted $0.18 EPS. The company’s revenue for the quarter was down 5.5% on a year-over-year basis. Sell-side analysts forecast that Clarivate will post 0.67 EPS for the current fiscal year.

Insider Activity at Clarivate

In other news, Director Andrew Snyder sold 2,489,618 shares of Clarivate stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $1.94, for a total value of $4,829,858.92. Following the completion of the transaction, the director owned 3,856,597 shares of the company’s stock, valued at $7,481,798.18. The trade was a 39.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kenneth L. Cornick acquired 650,000 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The shares were purchased at an average cost of $1.86 per share, for a total transaction of $1,209,000.00. Following the completion of the transaction, the director directly owned 1,750,000 shares in the company, valued at $3,255,000. The trade was a 59.09% increase in their position. The disclosure for this purchase is available in the SEC filing. 22.88% of the stock is currently owned by insiders.

Institutional Trading of Clarivate

Several institutional investors have recently added to or reduced their stakes in the business. KBC Group NV purchased a new position in Clarivate during the 1st quarter valued at approximately $4,118,000. Empowered Funds LLC boosted its position in shares of Clarivate by 418.6% during the 1st quarter. Empowered Funds LLC now owns 2,015,829 shares of the company’s stock valued at $5,100,000 after acquiring an additional 1,627,159 shares during the last quarter. BW Gestao de Investimentos Ltda. increased its position in Clarivate by 51.7% in the fourth quarter. BW Gestao de Investimentos Ltda. now owns 4,345,321 shares of the company’s stock worth $14,513,000 after purchasing an additional 1,480,300 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Clarivate during the first quarter valued at $3,342,000. Finally, CenterBook Partners LP increased its holdings in shares of Clarivate by 81.8% in the 4th quarter. CenterBook Partners LP now owns 1,369,972 shares of the company’s stock worth $4,576,000 after buying an additional 616,490 shares during the last quarter. 85.72% of the stock is currently owned by hedge funds and other institutional investors.

About Clarivate

Clarivate Plc (NYSE: CLVT) provides information, analytics and workflow solutions for organizations operating in research, academia, intellectual property and the life sciences. Its products are designed to help customers discover and evaluate research, manage intellectual-property portfolios, assess scientific and commercial opportunities, and support evidence-based decision-making.

The company’s offerings include Web of Science research and citation databases, InCites research analytics, Derwent patent information, Cortellis life-sciences intelligence, and CompuMark trademark and brand-protection solutions.